BUL 7.14% 5.2¢ blue energy limited

From the Breakaway report page 6 There has been significant...

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    From the Breakaway report page 6

    There has been significant exploration success, the most relevant to Blue being Origin Energy’s worldclass gas discovery in the Beetaloo Basin, around 200 km to the east. Origin announced on Feb 15, 2017, a 2C gas resource (gross) of 6.6 Tcf, following production testing at its latest well, Amungee-1H. This well delivered 63 mmscf over 57 days, from an 11 stage frac, in a 1100m horizontal section of organic rich shale at a depth of 2100m. In its report to the market, Origin stated the geology was analogous to the Barnett and Marcellus shales of the USA. This is quite a big claim, and investors on the other side of the planet took note. Shares in the smaller JV partner involved, Canadian company Falcon Oil and Gas increased 500% shortly there-after, effectively capitalising its 30% working interest in this project at C$350m. This confirms value on acreage hitherto considered almost worthless by equity investors in Australia.
 
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